Ohio Indemnity Auto Insurance Review (2024)

The Ohio Indemnity Company provides insurance for financial institutions and nonprofit organizations. Enter your ZIP code to get quotes from auto insurance agencies.

UPDATED: Mar 29, 2024Fact Checked

Kalyn Johnson

Insurance Claims Support & Sr. Adjuster

Kalyn grew up in an insurance family with a grandfather, aunt, and uncle leading successful careers as insurance agents. She soon found she has similar interests and followed in their footsteps. After spending about ten years working in the insurance industry as both an appraiser dispatcher and a senior property claims adjuster, she decided to combine her years of insurance experience with another...

Insurance Claims Support & Sr. Adjuster

Jeffrey Manola

Licensed Insurance Agent

Jeffrey Manola is an experienced insurance agent who founded TopQuoteLifeInsurance.com and NoMedicalExamQuotes.com. His mission when creating these sites was to provide online consumers searching for insurance with the most affordable rates available. Not only does he strive to provide consumers with the best prices for insurance coverage, but he also wants those on the market for insurance to ...

Licensed Insurance Agent

UPDATED: Mar 29, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

UPDATED: Mar 29, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Mar 29, 2024Fact Checked

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Ohio Indemnity Company

Average monthly rate for good drivers:

$100

A.M. Best rating:

A-

Complaint level:

Low

Pros

  • Ohio Indemnity offers four specific programs to aid lenders who experience unusual insurance situations
  • Strives to cut down on the paperwork and red tape involved when filing Ohio Indemnity claims

Cons

  • Ohio Indemnity provides insurance products for financial institutions and non-profit organizations only

Final Verdict: Review of Ohio Indemnity Company

After performing an Ohio Indemnity auto insurance review, it was determined that this company is in the business of insuring financial institutions.

Financial institutions include banks and credit unions. The company also insures 501(c)(3), or non-profit organizations, and they are licensed to conduct business in 50 states. Check out our piece on the cheapest auto insurance companies to find the best provider in your state.

Ohio Indemnity is a necessary resource for these financial institutions to avoid the so-called “red tape” that most insurance policyholders experience in filing claims.

The Ohio Indemnity Company claims process is sometimes long and involves generating documentation and verifications that pass through many hands from beginning to end.

To get auto insurance quotes today, simply enter your zip code to get your rates.

[su_box title="Things to Remember..." style="default”]
  • Ohio Indemnity provides insurance products for financial institutions and non-profit organizations
  • Ohio Indemnity strives to cut down on the paperwork and red tape involved when filing claims
  • Ohio Indemnity offers four specific programs to aid lenders who experience unusual insurance situations
[/su_box]After performing an Ohio Indemnity auto insurance review, it was determined that this company is in the business of insuring financial institutions. Financial institutions include banks and credit unions. The company also insures 501(c)(3), or non-profit organizations, and they are licensed to conduct business in 50 states. (Wondering which states have the cheapest auto insurance? Check out our piece on cheap auto insurance by state.) Ohio Indemnity is a necessary resource for these financial institutions to avoid the so-called “red tape” that most insurance policyholders experience in filing claims. The claims process is sometimes long and involves generating documentation and verifications that pass through many hands from beginning to end. To get auto insurance quotes today, simply enter your zip code to get your rates.

What You Should Know About Ohio Indemnity

Ohio Indemnity protects its policyholders against losses from charge-offs, write-offs, and other monetary losses that are beyond their control. When a bank customer’s loan is in default, the institution is at a loss for demanding the money if the customer cannot be located or does not have it to repay.

As a financial institution, it must have a constant flow of funding available to continue servicing its other customers.

So, how is the Ohio Indemnity Company rating from third-party reviewers? The company has had a Better Business Bureau accreditation since 2010, and its Ohio Indemnity Company BBB rating is A+. In addition, the Ohio Indemnity Company A.M. Best rating is A-.

If you’re interested in researching more about the company, the Ohio Indemnity company NAIC number is 26565. Read on to learn more about the Ohio Indemnity Company auto insurance claims process.

Ohio Indemnity Insurance UC Assure Program for Non-Profits

Non-profit organizations are treated differently because they operate differently. Whereas most business coverage uses the company’s unemployment budget as a basis for insurance rates, non-profit premiums are based on gross yearly payroll.

With Ohio Indemnity’s UC Assure program, these organizations don’t have to be concerned with mid-year rate changes that other business types have to take into consideration.

With the many changes that unemployment is undergoing in a struggling economy, Ohio Indemnity protects their policyholders from all of the unemployment turbulence.

They offer education, regular reports, and unemployment account advice from experts who train these organizations on ways to save on this huge expense.

For those who want to understand this program’s relation to transportation and auto insurance, think about the number of non-profits who use transportation and employees who are behind the wheel.

The individual, any passengers, and the transportation source has to be insured; therefore, there will be a trickle-down effect in the event of an accident.

Ohio Indemnity Co. Insurance Principles

The Ohio Indemnity Insurance Company prides itself on its principles, and these principles help it to build long-term relationships.

Communication is a key principle in maintaining direct contact with its agents to make sure their policyholders have the technology, expert advice, and commitment they need.

This way the company is on the cutting edge of methods they need to by-pass the bureaucracy that is associated with insurance claims processing. To file a claim, the Ohio Indemnity Company claims phone number is 1-800-628-8581.

As an approved and top surety bond provider, they are able to assure companies that insure federal bonds and funding. This is important to specialized markets with a niche that requires bonding.

Many of these businesses involve the financing of transportation portfolios.

Ohio Indemnity Insurance Coverage Options

Four programs are specific to lender’s needs yet similar to the insurance needs of any business. Check out these Ohio Indemnity company auto insurance coverages for businesses:

  • Vendor Single Interest: Protects against vehicle confiscations such as when the government or other officials hold the vehicle for open court cases; protects the lender’s portfolio of vehicles that may not be recovered from repossessions or when there is damage to the vehicle when it is recovered.
  • Gap Insurance: Covers the difference between the primary insurance policy amount and the loan balance; offers protection up to 150% MSRP. It also covers defaulted loans up to $50,000, as well as deductible amounts on new or used vehicles with loans up to eight years.
  • Equipment Physical Damage: Available on the term of the loan or yearly; covers the actual cash value on agricultural, construction, lawn, and commercial equipment vehicles. This coverage is also available for loans financed up to eight years and valued for as much as $100,000.
  • Creditor Placed Insurance: You can get Ohio Indemnity car insurance intended to cover vehicles and other personal property used for collateral; also for losses where the owner does not have enough insurance to cover the damages. All of the programs cover the lender’s whole portfolio of vehicles if defaulted on, stolen, or not recovered for any other reason.

As you can see, special programs are available to lenders who face situations unusual to the general public. If you need to file a claim, the Ohio Indemnity insurance claims phone number is 1-800-628-8581.

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Frequently Asked Questions

What is Ohio Indemnity Auto Insurance?

Ohio Indemnity Auto Insurance is a type of auto insurance coverage provided by Ohio Indemnity, a reputable insurance company operating in the state of Ohio. It offers protection for drivers and their vehicles against various risks and liabilities.

Looking for other cheap companies in Ohio? Consider checking out Ohio Mutual insurance reviews to see if the company is right for you.

What types of auto insurance coverage does Ohio Indemnity offer?

Ohio Indemnity Auto Insurance offers several types of coverage, including liability coverage, collision coverage, comprehensive coverage, uninsured/underinsured motorist coverage, personal injury protection (PIP), and medical payments coverage. Each coverage type provides specific protections for different situations.

If you’re in Columbus, OH, you should check out Ohio Indemnity Co Columbus reviews to see if its coverage options fit your needs.

What is Ohio Indemnity Lender Services?

Ohio Indemnity Lender Services, also known as OIC Lender Services, is a subisdiary of Ohio Indemnity.

What is liability coverage?

Liability coverage is a fundamental component of auto insurance. It helps pay for bodily injury and property damage caused to others if you are found at fault in an accident. Ohio Indemnity offers liability coverage to protect you against legal obligations resulting from an accident where you are responsible.

What does collision coverage entail?

Collision coverage offered by Ohio Indemnity Auto Insurance covers the cost of repairing or replacing your vehicle if it is damaged in a collision with another vehicle or object, regardless of who is at fault.

What is comprehensive coverage?

Comprehensive coverage provided by Ohio Indemnity Auto Insurance protects your vehicle against non-collision-related incidents, such as theft, vandalism, fire, falling objects, and certain natural disasters. It helps cover the cost of repairs or replacement of your vehicle.

What is the meaning of indemnity company?

An indemnity company is basically an insurance company, which provides compensation for losses specified in an insurance contract. For example, Financial Indemnity auto insurance offers coverage to drivers looking to protect them and their vehicles.

Kalyn Johnson

Insurance Claims Support & Sr. Adjuster

Kalyn grew up in an insurance family with a grandfather, aunt, and uncle leading successful careers as insurance agents. She soon found she has similar interests and followed in their footsteps. After spending about ten years working in the insurance industry as both an appraiser dispatcher and a senior property claims adjuster, she decided to combine her years of insurance experience with another...

Insurance Claims Support & Sr. Adjuster

Jeffrey Manola

Licensed Insurance Agent

Jeffrey Manola is an experienced insurance agent who founded TopQuoteLifeInsurance.com and NoMedicalExamQuotes.com. His mission when creating these sites was to provide online consumers searching for insurance with the most affordable rates available. Not only does he strive to provide consumers with the best prices for insurance coverage, but he also wants those on the market for insurance to ...

Licensed Insurance Agent

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

Compare Quotes from Top Companies and Save

Enter your ZIP code below to view companies that have cheap auto insurance rates.

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